How My $7 Sales Funnel Has Made $3,200,000 In 12 Months
Summary
TLDRThis video script outlines a sales funnel strategy that leverages a $7 entry product to attract and convert customers into high-value clients. The presenter details the process of using extended webinars to engage prospects, followed by upsells to a $1,000 boot camp and a $14,000 coaching program. Despite the impressive revenue of $3.2 million generated in a year, the speaker advises beginners to opt for a simpler approach, recommending a free high-ticket webinar that leads directly to booking calls for potential clients. The script concludes by emphasizing the importance of mastering phone sales for a streamlined and profitable process.
Takeaways
- 💰 The speaker generated over $3.2 million in sales with a $7 product over the past 12 months.
- 📈 The sales funnel involves running ads (Facebook, YouTube) to an extended webinar that costs $7 to attend.
- 📝 Attendees of the $7 webinar are more valuable because they are paying customers, not freebie seekers.
- 👥 At the end of the $7 webinar, attendees are offered a $1,000 boot camp.
- 📊 About 15-20% of webinar attendees convert to the boot camp, and 35-40% of boot camp attendees join the $14,000 coaching program.
- 📞 The process does not involve phone sales, making it suitable for those wanting to avoid phone calls.
- ❗ The speaker advises against starting with this complex funnel and recommends a simpler process for beginners.
- 🚀 The simpler recommended process involves a free 40-minute high-ticket webinar leading to a sales call and then offering high-ticket coaching.
- 🔍 The speaker runs both the complex and simpler funnels to diversify and stabilize their business revenue.
- 📺 The speaker encourages viewers to learn more about the high-ticket webinar process and check out additional resources.
Q & A
What is the main purpose of the $7 product in the sales funnel?
-The $7 product serves as a stepping stone to find and land high ticket clients, while also helping to offset ad costs and building a valuable email list of buyers.
Why is the speaker a big believer in selling high ticket products?
-The speaker believes in high ticket products because they allow for premium positioning in the marketplace and can increase prices across various industries such as courses, coaching, consulting, and agency services.
What is an 'extended webinar' and why is it used in the sales funnel?
-An extended webinar is a longer webinar that runs for a few hours and is charged at $7. It is used to engage potential customers, offset ad costs, build a valuable email list of buyers, and ensure attendees' attention throughout the session.
What is the significance of charging $7 for the extended webinar?
-Charging $7 helps to offset ad costs, ensures that the email list consists of buyers rather than just freebie seekers, and indicates that attendees are more likely to be engaged and attentive.
What product is sold at the end of the $7 extended webinar?
-At the end of the $7 extended webinar, a boot camp is sold. This is a three-day live experience with the speaker and their team, providing in-depth knowledge on the topic introduced during the webinar.
What is the price of the boot camp and what does it include?
-The boot camp is priced at $1,000 and includes a three-day live experience with the speaker and their team, where attendees learn in detail about the topic introduced in the extended webinar.
What is the Elite coaching program and why is it offered only to boot camp attendees?
-The Elite coaching program is a high-ticket coaching service priced at $14,000. It is offered exclusively to boot camp attendees as a one-time invitation to become a proper client, ensuring the quality and exclusivity of the program.
What is the conversion rate from the $7 extended webinar to the boot camp?
-The conversion rate from the $7 extended webinar to the boot camp is approximately 15-20%, which is considered quite good in the industry.
Why does the speaker recommend against using the complex sales funnel for someone just starting out?
-The speaker recommends against the complex funnel for beginners because it involves more moving parts and complexity. Instead, a simpler high ticket webinar process is suggested for easier implementation and profitability.
What is the alternative process recommended for someone just starting out in the business?
-For beginners, the speaker recommends using a free high ticket webinar that is shorter and easier to set up. After the webinar, attendees are encouraged to book a call to discover the possibilities of becoming a client, leading directly to the high ticket coaching offer.
Why does the speaker's company still use the complex sales funnel despite recommending a simpler process for beginners?
-The speaker's company uses the complex sales funnel because they have a large business and need different vehicles to ensure they are not reliant on just one method. It also helps in eliminating the need for phone sales and allows for a smooth operation alongside their sales team.
Outlines
🛠️ Mapping Out the $7 Sales Funnel
The speaker describes a simple sales funnel that sells a $7 product and has generated over $3.2 million in sales over the past 12 months. He plans to explain the funnel's workings, the mistakes made, and why there might be a better approach. Despite advocating for high ticket products, he introduces the $7 product as a stepping stone to attract high ticket clients.
📈 Initial Funnel Strategy and Benefits
The speaker explains the initial funnel strategy of using paid extended webinars, priced at $7, to attract potential clients. The benefits include generating initial revenue, building a valuable email list of buyers, and ensuring attendee engagement. The funnel then leads to a $1,000 boot camp and ultimately to a $14,000 coaching program.
🔢 Conversion Rates and Revenue Breakdown
The speaker shares detailed conversion rates and revenue figures. From 400 registrants for the extended webinar, about 300 show up, 50 move to the boot camp, and 15 join the coaching program. This process generates approximately $260,000 monthly, contributing to the $3.2 million annual revenue. Despite its success, the speaker advises against this complex approach for beginners.
📞 An Easier Path: Free High Ticket Webinars
For beginners, the speaker recommends a simpler process involving free high ticket webinars. These 40-minute webinars lead to booking calls with prospects and directly selling high ticket coaching programs. This approach is easier, with fewer moving parts and still profitable, though it requires proficiency in phone sales.
🏢 Dual Strategy for Large Businesses
The speaker explains why his company uses both the complex funnel and the simpler process. With a large business generating nearly $1,000,000 a month, they need multiple revenue streams. He advises new businesses to start with the simpler high ticket webinar approach and grow from there, ensuring they can consistently attract high ticket clients.
Mindmap
Keywords
💡Sales Funnel
💡$7 Product
💡Extended Webinar
💡Boot Camp
💡High Ticket Products
💡Conversion Rate
💡Advertising
💡Email List
💡Phone Sales
💡High Ticket Webinar
Highlights
A $7 product sales funnel generated over $3.2 million in sales in 12 months.
The presenter is a proponent of selling high-ticket products and premium positioning.
The $7 product serves as a stepping stone to find high-ticket clients.
Advertising leads to extended webinars, where attendees pay $7, offsetting ad costs and building a valuable email list.
People who pay for the webinar are more likely to attend and engage fully.
After the webinar, a three-day boot camp is offered for $1,000.
Boot camp attendees are offered a one-time invitation to a $14,000 coaching program called Elite.
Conversion rates are high, with 15-20% moving from the webinar to the boot camp and 35-40% to the coaching program.
The process is complex but eliminates the need for phone sales, appealing for those wanting to avoid a sales team.
An alternative simpler method is suggested for beginners: a free high-ticket webinar leading to a direct booking call.
The presenter's company uses both methods, leveraging a sales team and boot camp system in parallel.
For new businesses, a simple high-ticket webinar can be very profitable and lead to a steady client base.
The presenter offers a video on how to make over $10 million with 40-minute webinars.
The importance of phone sales skills for the simple method is emphasized.
The company's recent success, hitting almost $1,000,000 in a single month, is mentioned.
The dual system ensures business stability, not relying solely on one revenue stream.
The presenter encourages viewers to learn more about the high-ticket webinar process and subscribe for more content.
Transcripts
So I've got a very simple sales funnel that sells a $7 product.
And over the course of the last 12 months,
it's generated me well over $3.2 million in sales.
I'm going to map out for you on the board the exact sales funnel,
how it all works, how we got to the 3.2 million.
And then I'm going to share with you the biggest mistakes with this funnel
and the reasons why you probably shouldn't do it
and how there's actually an easier, faster way for you to get to the 3.2.
So without further ado, let's get straight into it.
So if you've been following me for any time at all,
you know that I'm a big believer in selling high ticket products.
It doesn't matter
what industry you're in if you sell courses, coaching, consulting,
agency services, whatever the heck it is, you can increase your prices
and put yourself at a premium positioning in the marketplace.
And I've not been a big fan of low ticket products.
So you might say, Well, John, then why are we talking about a $7 product
today when you were a big advocate for high ticket?
Well, essentially the $7 product is a stepping stone
for us to find and land those high ticket clients.
And so then your next question might be, well, then what's the point in the $7?
Why don't we go straight to the high ticket?
All will be revealed as we get to the end of this video.
But first, let me share with you the journey that a prospect goes on
to go all the way through our process, become a high ticket client
off the back of a $7 product, and how that has generated 3.2 million
in the last year.
Let's start with the advertising.
We've got to go out there online.
I'm going to start running some ads.
This might be Facebook ads, YouTube, whatever the case may be for you.
We've got to send that to an initial funnel.
And what we send it to is we we basically call them extended webinars.
These are longer webinars that run for a few hours.
And what we do is rather than a shorter webinar that we might make completely free
to register, we actually charge $7
to attend this particular extended webinar.
There are a lot of benefits to this, but a few of the primary ones
that I'll share with you
right now is firstly, we're getting a little bit of cash in the door,
so that's helping offset our ad costs just a little bit.
Secondly, we're still building our email list off the back of that,
but now that email list is far more valuable to us moving forward
because we have a list of buyers,
not a list of what potentially could be freebie seekers.
And thirdly, we find that when people pay $7,
they pay attention, meaning they actually do show up to this webinar,
play out, stay all the way to the very end.
So that's our initial funnel and we drive most of our traffic
into this extended webinar.
Now at the end of the $7 extended webinar,
that's when we sell our first bigger product.
And what we sell is a boot camp.
And this boot camp is a three day experience with me and my team
completely live where we go through all of the steps
that we talked about in the extended webinars, the extended webinar
that they paid $7 for, consider it an introduction to your topic.
You started planting some seeds.
They're starting to learn how this all makes sense
and then you make an offer to come to the boot camp to really go
deep on on the topic and learn it from you in detail.
We charge $1,000 for that boot camp.
So now all of our traffic going to a $7 event
when they come at the end of that $7 event, we sell $1,000 boot camp
and at the end of that three day
boot camp, they have loved the experience.
They've got far more value than they thought they were going to get.
And then we present an opportunity to become a proper client
and we only make this offer to people one time.
It's a one time invitation when people come on our boot camp
and then we sell them into our coaching program that we call Elite,
and that sells for $14,000 to work with us in that program.
So now you might be interested to know the numbers and how that all works out.
Well, let me share that with you.
All of the people that come to our $7 extended webinar.
We have about 15 to 20% of people that will convert
and come up to the next thing.
So we'll put 15% here.
For argument's sake, that's a pretty good conversion rate, right now.
I've been doing this a long time.
It's actually very, very hard to get those types of numbers,
but I've been doing webinars for ten years.
I'm really, really good at them now.
What's really cool
is once they come to the bootcamp, they have a phenomenal experience.
We make an offer
for our elite coaching program, which is not a public coaching program.
It's not something we offer to everyone.
We only offer it to people that attend our boot camp as a next step.
And even then it's only a one time invitation and we have
between 35 to 40% of people
that attend that boot
camp that jump up into our coaching program.
And again, that is an incredible conversion rate.
And it's testament to I've been doing this a long time and I'm very good at it.
And secondly, it's testament to the quality of the boot camp
and the material that we give those attendees.
So let's take a look from the very beginning.
Again, if we have 400 people
register for our extended webinar,
who typically have about 300, that actually showed up.
So now we've got 300 of those registrants that we could sell something to.
Of those 300 people at a 15 16%
conversion rate, often times it's much higher.
We'll have about 50 people that come over and take the boot camp.
And of the 5050 people, typically about 15 people take the coaching.
Okay.
So if we look at the math over here at the very beginning,
I mean, we're looking at generating
about 2800 in $7 tickets.
I mean, nothing to write home about, but at least it's a start at the boot
camp level.
We're then, of course, making about 50,000 on those boot camp tickets.
And then here on the coaching we're doing about $210,000.
So if we combine that, it's roughly 260 and that all comes together
over the course of 12 months to be just shy
of 3.2 million in revenue for us.
Now, of course, this is one process.
We've got this to a well oiled machine.
Now these events run really smoothly.
The boot camp is absolutely awesome.
And then we get all great high ticket clients out the other end.
Now, some of you might be looking at this going, John, that looks frickin awesome.
I would love to have something like that.
And there's another half of you that's probably looking at that going on.
That seems really complicated.
Why are you going around all of this stuff?
Just to really get to the main moneymaker, which are the high ticket clients.
Well, however you're feeling right now,
my recommendation for you is that you actually don't do this.
Okay?
There is one main benefit to me and my company as to why we do this,
and it is not a worthy reason for someone who is just starting out.
If you've noticed, nowhere in this process
have we had to enable a phone conversation.
We're getting all the way to a high ticket client
and we've never even had to pick up the phone.
We're selling directly to the next thing without the need for a phone call.
So this is really great.
If you're wanting to eliminate the need for a sales team or you don't want to do
phone sales or your business is large
enough that you could add this in.
But the reality is I've been doing this a long time.
My team has been doing this a long time and I do not recommend
for the average person to start there.
There was a much easier, shorter route to market where you can be
landing those high ticket clients without the need for that complexity.
And once you've done enough of the sales calls,
once you've gotten to know your prospects, really understood them
later down the line as your business grows,
maybe you'll want to do some of the stuff that I just mentioned there.
So here's what I'd recommend for someone who's literally just starting out.
We're going to have
the same advertisements that we're running on Facebook, YouTube, things like that,
But we're not going to drive them to a paid extended webinar.
We're going to drive them to what we call a free high ticket webinar.
This is shorter.
It's about 40 minutes, much easier, much quicker to put together.
Yes, you're going to get slightly lower quality of people joining your email list.
You're not getting the buyers,
but in the long run, it's going to work out just fine,
which I'll share in just a moment.
So they register for free.
They come to your 40 minute ticket webinar
and at the end of the webinar, the call to action is really simple.
It's to book a call with you to discover the possibilities to become a client.
Now, this must be positioned correctly.
There's a sweet science to this.
You don't want to just be offering a call to absolutely everyone.
There needs to be a qualification process in that, but we're allowing them
to book a call and at the end of the call, that's when we take them straight
to your high ticket coaching, which in our case would be the $14,000.
This process is so much easier for people just getting started.
There are fewer moving parts, there's less work involved on your part
and you can get straight to the high ticket client
and this whole process will be very, very profitable by itself.
Granted, you've got to get good at phone sales.
We teach our clients how to do this.
We're very, very good at it.
But you've got to learn that process and get really fluent with how you
communicate with a prospect and lead them all the way to becoming a client.
But once you've done that, this process will work really, really well
and your price point doesn't even have to be up here at the 14,000,
you could be selling something
for four, ten or five or even two, and the numbers will still work out.
So now the question might be on your mind.
Well, John, if this sounds so simple and yet so profitable,
why the heck are you doing this really complicated process over here?
Well, the answer is simple. We do both.
We have a very large company right now.
We just hit a record month and almost $1,000,000 in a single month.
So we're doing some really big things.
And when you get to that level in business and and playing this coaching game
at that, at that level, you need to introduce
a few different vehicles inside the business.
So we've got this system where we have a sales team taking calls for us
and then we've got the boot camp system and both of them run alongside each other.
And what that means is we're not reliant on one or the other.
We're not only reliant on a sales team or what if sales are down, any given month
and we're not only reliant on a boot camp, we've got both.
But my recommendation for people that are just starting out is this
You can very easily get your coaching business to 20, 30, 40,
50 K per month by just picking up a handful of clients every month
using a simple high ticket webinar.
So that being said,
your next step is to learn more about this high ticket webinar process.
And I've got a video for you up here that you can check out, which breaks down
how I made over $10 million with these simple 40 minute webinar.
So check that out.
I hope you find it helpful.
Do me a favor, hit the thumbs up on this video if you found this helpful.
And also, don't forget to subscribe to the channel.
We've put out great new content every single week.
I'll see you again very soon.
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